Our basic account is called a share account. Minimum balance to open an account is $25.00. In a credit union we have members not customers. Dividends are paid quarterly on all accounts which have a balance of $25.00 or more.
Quarterly statements reflecting the activity account are mailed to our members.

Share drafts are checking accounts. Money can be deposited in person, transferred from your share account, or you may chose to have a direct deposit. The direct deposit can be payroll/pension or Social Security. We provide you with the routing number ( ABA ) and account number – when the money is deposited into your account, it's easy to write checks to pay bills.

Advantages of our share draft account:

The debit card is directly tied to your checking account and can be used as a credit card. If used as a credit card, you need to sign for the transaction and get the backing of VISA if anything goes wrong with your purchase.

We also offer certificate of deposit (CD) accounts. CD accounts earn a higher dividend and have a time limit – you just choose the term.

2 (two) options for dividend payment:

•  Add the quarterly dividend to your certificate balance;

OR

•  Transfer into your regular share account. A little extra money if you need it for liquidity.

Minimum deposit for each certificate is: $500

Terms - 6 months, 12 months, and 24 months or name your term. That is if you do not want to tie up your money for the full year, just name your maturity date and we will offer you the rate closest to our term limit!

There is a penalty for early withdrawal of unpaid dividends of up to 30 days interest regardless of the term. Unposted dividends in excess of 30 days will be credited to your account at time of closing.

You are allowed to make one additional deposit (excluding dividend) to your existing CD!

Please call us for our rates!

IRA (Individual Retirement Account) is a savings plan that helps you accumulate funds for retirement. If you do not have a pension plan at your place of employment, you can contribute up to amount below and deduct it from your taxes. But even if you have a pension plan at work – you may still be able to deduct a portion of the balance, just talk with your tax advisor.

YEAR 2007
You can contribute earnings up to:

The Benefits of a Traditional IRA
A Traditional IRA can help you prepare for retirement and serve a number of other purposes.  Grow Your Nest Egg – Earnings and deductible contributions in a traditional IRAs grow tax-deferred until withdrawal, which can begin at 59½ but must begin at age 70½.  First Home

Purchase – You can withdraw up to $10,000 penalty-free towards the purchase of your first home.  Pay for College – Traditional IRA funds used to pay for qualified educational expenses can be withdrawn penalty free.  There is no dollar limit and funds can be used for tuition, fees, books, and supplies at a post-secondary institution.  Assist with Medical Expenses – Funds to pay for certain medical expenses can be withdrawn from your traditional IRA without paying a 10% early distribution tax.

The Benefits of a Roth IRA
A Roth IRA can help you prepare for retirement and serve a number of other purposes. 

Preparing for Retirement – Roth IRAs serve as a great retirement tool because qualified withdrawals, including earnings, are tax-free.  First Home Purchase – If you’ve had your Roth IRA for at least five years, you can use $10,000 towards the purchase of your first home tax- and penalty-free.  Leave Funds to your Heirs – There are no mandatory withdrawals, so you could leave money from your Roth IRA to your heirs tax-free.  Pay for College – Qualified educational expenses are penalty free.  There is no dollar limit and funds can be used for tuition, fees, books, and supplies at a post-secondary institution.  Rainy Day Fund – You have access to your regular contributions tax- and penalty-free at any time for any reason.

The Credit Union will open an account for our member's baby up to 2(two) years old. All we need is the Baby's Social Security and date of birth. The initial $25 is deposited by the Credit Union.

It is our goal for our Credit Union to continue growing and serve our future generations. Parents and grandparents, relatives and friends can all deposit to this account.

Uniform Gift for Minors Accounts - Trying to raise a family and save enough to send them to college can be difficult. Here at UHDFCU we understand. So we now offer UGMA accounts that pay the same interest as an IRA account, but it is in the child's name and social security number.

Our Platinum accounts are a mixture of savings and time deposit. It has the best of both worlds- higher interest rates and deposit capabilities, no term limit and, one withdrawal per quarter with no penalty. However if the balance falls under $1,000 the regular share dividend will apply.

Please call us for our rates!